August sustained peak summer performance, with ADR at $272.47, a few cents above the record set last month. Demand grew slightly compared to July, but didn't reach the peak of August 2022, off by almost 4%. Demand for August 2023 was the fourth best for that month in the last 10 years. Overall hotel revenue for the month reached $61.1 million, an encouraging indicator for future bed tax collections.
Not sure what these terms mean? Check the guide to hotel performance.
